Inflation in check in EAEU countries in 2017

MINSK, 17 January (BelTA) – The inflation rate in the Eurasian Economic Union (EAEU) in 2017 did not exceed the upper limit set in the EAEU Treaty, BelTA learned from the press service of the Eurasian Economic Commission.

The inflation rate in each of the EAEU member states did not exceed the 7.5% level set in the EAEU Treaty. Armenia and Russia reported the lowest inflation in the EAEU in 2017. The consumer price growth slowed down in Belarus, Kazakhstan, and Russia. As a result of economic recovery and growing domestic demand, the deflation gave way to a moderate growth of prices in Armenia and Kyrgyzstan. “Thus, the inflation, one of the key macroeconomic indicators, is in the area of macroeconomic stability,” the press service noted.

In 2017, the inflation rate stood at 2.6% in Armenia, 4.6% in Belarus, 7.1% in Kazakhstan, 3.7% in Kyrgyzstan, and 2.5% in Russia.